Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 10/23/20
Our newsletter presents key trends derived from observable High Yield Corporate Bond pricing data over a weekly period.
Top 10 Winners
Showcases the top 10 HY Corp “winners” based on the largest bid price increases between 10/16/20 – 10/23/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | CIT 5.8 PERP | 5.80% | 06/07/99 | 22.84% | 98.97 | 80.57 |
| 2 | VEDLN 9.25 4/23/2026 144A | 9.25% | 04/23/26 | 16.26% | 67.63 | 58.17 |
| 3 | GALCLD 6.5 9/15/2024 144A | 6.50% | 09/15/24 | 15.63% | 59.25 | 51.24 |
| 4 | TLWLN 6.25 4/15/2022 | 6.25% | 04/15/22 | 10.92% | 62.29 | 56.16 |
| 5 | ENJOY 10.5 5/16/2022 REGS | 10.50% | 05/16/22 | 9.67% | 61.87 | 56.41 |
| 6 | SYDBDC 0 PERP | 0.00% | 11/29/49 | 9.31% | 80.27 | 73.44 |
| 7 | PDLLN 7.25 5/1/2022 | 7.25% | 05/01/22 | 8.56% | 40.30 | 37.12 |
| 8 | GFKLDE 0 9/1/2023 REGS | 2.99% | 09/01/23 | 8.42% | 99.74 | 92.00 |
| 9 | BFCM 0 12/29/2049 | 0.00% | 12/29/49 | 8.25% | 86.66 | 80.06 |
| 10 | RIG 3.8 10/15/2022 | 3.80% | 10/15/22 | 7.30% | 46.63 | 43.46 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 10/16/20 – 10/23/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | PBFENE 7.25 6/15/2025 | 7.25% | 06/15/25 | -22.85% | 56.36 | 73.05 |
| 2 | PBRXIJ 7.625 1/26/2022 | 7.63% | 01/26/22 | -15.91% | 69.89 | 83.12 |
| 3 | BUENOS 7.875 6/15/2027 | 7.88% | 06/15/27 | -11.40% | 33.70 | 38.03 |
| 4 | SRILAN 6.75 4/18/2028 REGS | 6.75% | 04/18/28 | -11.17% | 57.41 | 64.63 |
| 5 | ARGENT 2.5 12/31/2038 | 3.75% | 12/31/38 | -10.52% | 34.00 | 38.00 |
| 6 | SM 6.75 9/15/2026 | 6.75% | 09/15/26 | -8.51% | 40.08 | 43.81 |
| 7 | BTU 6.375 3/31/2025 | 6.38% | 03/31/25 | -8.47% | 30.67 | 33.51 |
| 8 | ARGBON 0.125 7/9/2030 | 0.13% | 07/09/30 | -7.98% | 36.44 | 39.60 |
| 9 | DSPORT 5.375 8/15/2026 144A | 5.38% | 08/15/26 | -7.24% | 61.52 | 66.32 |
| 10 | GPOR 6 10/15/2024 | 6.00% | 10/15/24 | -7.07% | 57.81 | 62.21 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 10/16/20 – 10/23/20
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Sentiment
Reveals the percent of HY Corps increasing in price (advancers) vs. HY Corps decreasing in price (decliners) between 10/16/20 – 10/23/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 10/16/20 vs. the week ending 10/23/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | MNK 5.625 10/15/2023 | 5.63% | 10/15/23 | 150 | 279 | 129 | 86% |
| 2 | MNK 5.5 4/15/2025 | 5.50% | 04/15/25 | 145 | 254 | 109 | 75% |
| 3 | DOMREP 4.875 9/23/2032 REGS | 4.88% | 09/23/32 | 91 | 180 | 89 | 98% |
| 4 | THS 4 9/1/2028 | 4.00% | 09/01/28 | 103 | 185 | 82 | 80% |
| 5 | SWCH 3.75 9/15/2028 REGS | 3.75% | 09/15/28 | 71 | 152 | 81 | 114% |
| 6 | JCP 5.65 6/1/2020 | 5.65% | 06/01/20 | 21 | 99 | 78 | 371% |
| 7 | HLT 4.875 1/15/2030 | 4.88% | 01/15/30 | 97 | 173 | 76 | 78% |
| 8 | MNK 10 4/15/2025 | 10.00% | 04/15/25 | 168 | 244 | 76 | 45% |
| 9 | STLD 3.25 10/15/2050 | 3.25% | 10/15/50 | 82 | 144 | 62 | 76% |
| 10 | STLD 1.65 10/15/2027 | 1.65% | 10/15/27 | 84 | 144 | 60 | 71% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 10/16/20 – 10/23/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | PETBRA 8.75 5/23/2026 | 8.75% | 05/23/26 | 34 |
| 2 | PETBRA 6.85 6/5/2015 | 6.85% | 06/05/15 | 34 |
| 3 | PETBRA 5.999 1/27/2028 | 6.00% | 01/27/28 | 33 |
| 4 | ROLLS 5.75 10/15/2027 REGS | 5.75% | 10/15/27 | 33 |
| 5 | PETBRA 6.875 1/20/2040 | 6.88% | 01/20/40 | 33 |
| 6 | PETBRA 5.75 2/1/2029 | 5.75% | 02/01/29 | 33 |
| 7 | PETBRA 7.375 1/17/2027 | 7.38% | 01/17/27 | 33 |
| 8 | OAS 6.875 3/15/2022 | 6.88% | 03/15/22 | 32 |
| 9 | CCL 9.875 8/1/2027 | 9.88% | 08/01/27 | 32 |
| 10 | ARGENT 0.125 7/9/2035 | 0.13% | 07/09/35 | 31 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 10/16/20 – 10/23/20
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 10/16/20 – 10/23/20
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